3U HOLDING AG announces partial withdrawal from the PV framework agreement and completion of the PV rooftop system in Adelebsen

(PresseBox) ( Marburg, )
3U SOLAR Systemhandel AG, a subsidiary of 3U HOLDING AG had signed a framework contract to purchase PV modules with a trading and project company from Berlin with a contract value of up to EUR 18.5 million for the year 2011 in March 2011. In the quarterly report III/2011 it had already been pointed out that because of the turmoil that occurred in the PV module market, this company would probably not fulfill its contractual obligations in full. Since the company is in default with the payment and collection of PV modules in the amount of approximately EUR 6.4 million at year's end, 3U SOLAR Systemhandel AG has rescinded the sales contract regarding the sale of this subset. 3U HOLDING AG expects no significant impact on earnings from this partial rescission of the PV framework contract, but fewer sales than originally forecasted in the amount of around EUR 6 million.

On November 19, 2011 3U HOLDING AG had reported that it expands in the field of planning and development and the construction of its first solar park in Adelebsen. The construction of the roof areas was commenced immediately thereafter and now completed in time by year's end. With this planned completion of the 1.2 MWp roof-mounted PV system Solarpark Adelebsen GmbH, the 100%-owned subsidiary of 3U, secures the higher feed-in tariff of 2011. The assembly of photovoltaic modules on the open space will begin in February 2012 and should be completed in the first half of 2012. There are various demands for the storage space also acquired in Adelebsen. A hall use concept is currently designed that takes into account the different needs and allows for optimal rental of the halls at the end of construction.
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